The magazine published an article written by Kraft, entitled “It’s in America’s National Interest to Address the Extreme EB-5 Visa Backlog”.
In the article, Kraft addresses the fact that over 1 million Lawful Permanent Residents (LPR) are admitted to the U.S. annually, though EB-5 makes up just 1 percent of the total LPR admissions and .003 percent of the total U.S. population.
It’s critical for the backlog issue to be addressed, considering the fact that EB-5 has funded more than $14 billion in foreign direct investment, contributing to GDP, and creating tens of thousands of American jobs—all at no cost to the taxpayer. The Program has been a huge asset to the American economy.
If the backlog continues to go unaddressed, Kraft believes “We are essentially turning away jobs, investment, and some of the world’s most talented people”.
He notes that the effects of the backlog will be especially pronounced in small markets like Milwaukee, “where EB-5 has been a catalyst for citywide development. Small cities and rural areas typically attract limited Foreign Direct Investment and I believe without EB-5 as a vehicle, these areas are less likely to do so in the future.”
The Global Water Center in Milwaukee is a perfect example of a project funded by EB-5, which has experienced uncalculated success and spurred further development in the area. The Center has stimulated the development and construction of Reed Street Yards, Global Water Technology Park, and Global Water Center II. The success of the Global Water Center has helped to reinforce Milwaukee's position as "The Silicon Valley of Freshwater Research and Technology."
To read more on Kraft’s feature in EB5 Investors Magazine, click here.